Fintech PR

Elliott Criticizes the Republic of Korea’s Decision to Continue to Challenge the US $100 Million Arbitral Award at the Expense of Its Citizens

Published

4 months ago

September 12, 2024

WEST PALM BEACH, Fla., Sept. 12, 2024 /PRNewswire/ — Elliott Investment Management L.P. (“Elliott”), today issued the following statement:

On September 12, 2024, the Republic of Korea (“ROK”) filed court papers to appeal the High Court of England and Wales’s (the “English Court”) dismissal of its application to set aside the US $100 million Arbitral Award (“Award”). Elliott will continue to vigorously defend the Award and its rights under the U.S.-Korea Free Trade Agreement (the “Treaty”).

The Award was issued against the ROK in June 2023 to compensate for the damages Elliott suffered when the ROK government corrupted the Korea National Pension Service’s decision-making process in relation to the controversial 2015 Samsung Merger. The arbitral panel found that the ROK’s intervention – which resulted in numerous criminal convictions of government and Samsung officials – violated the investor protection provided under the Treaty.

The ROK’s continued refusal to honor the Award is not surprising yet deeply wrong-headed, particularly given that the ROK has already attempted and failed to set aside the Award. The English Court dismissed the ROK’s application at the threshold without even hearing the merits, issuing a comprehensive judgment after the hearing that was held in London in July 2024.

Elliott encourages the ROK to reconsider its decision to appeal the English Court’s ruling. The ROK’s actions undermine its efforts to build a reputation as a fair, transparent and trustworthy capital market, further perpetuating the “Korea Discount.” Additionally, the ROK’s ongoing refusal to honor the Award is only increasing the burden on Korean taxpayers, as interest on the Award continues to accrue at a rate of more than US $10,000 every day, along with the potential for further cost liability arising from the ROK’s appeal. The ROK should stop trying to distract the Korean public from the government’s own corrupt conduct and mistakes. Rather than further increasing the cost its citizens will ultimately have to bear, it should comply with the judgment and put this episode behind it.

More information regarding this matter can be found on the website of the Permanent Court of Arbitration by following the link below:
https://pca-cpa.org/en/cases/197/

About Elliott
Elliott Investment Management L.P. (together with its affiliates, “Elliott”) manages approximately $69.7 billion of assets as of June 30, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.

Media Contacts:

U.S.
Casey Friedman
Elliott Investment Management L.P.
T: +1 212 478 1780
[email protected]

London
Alice Best
Elliott Advisors (UK) Limited
T: +44 203 009 1715
[email protected]

Seoul
Jin Kim
Nine Crosby
T: +82 2 866 9455
[email protected]

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View original content:https://www.prnewswire.co.uk/news-releases/elliott-criticizes-the-republic-of-koreas-decision-to-continue-to-challenge-the-us-100-million-arbitral-award-at-the-expense-of-its-citizens-302247171.html

Fintech PR

Matrixdock Integrates XAUm Gold Token with Binance Wallet to Advance Financial Equality

Published

3 hours ago

December 30, 2024

CISION (PR Newswire)

matrixdock-integrates-xaum-gold-token-with-binance-wallet-to-advance-financial-equality

SINGAPORE, Dec. 30, 2024 /PRNewswire/ — Matrixdock, Asia’s real-world asset (RWA) tokenization leader, announces the integration of its flagship gold token, XAUm, with Binance Wallet, one of the world’s leading digital asset wallets. This development builds on previous integrations with centralized exchange Web3 wallets like OKX and crypto wallets like MetaMask, reinforcing Matrixdock’s commitment to making gold investments more secure, efficient, and accessible for hundreds of millions of global users.

At the core of this integration is XAUm, a token fully backed by London Bullion Market Association (LBMA)- accredited gold bars with a minimum fineness of 99.99%. Each XAUm token represents one troy ounce of gold. These gold reserves are securely stored in Brink’s vaults in Hong Kong and Singapore, offering token holders the option to redeem XAUm for physical gold.

Purpose-built for Web3 compatibility and the multi-chain ecosystem, XAUm seamlessly blends blockchain innovation with user-centric design. Its robust proof-of-reserve transparency, efficient multi-chain reserve management, and enhanced interoperability inspire trust and elevate gold from a static asset to a dynamic, multifunctional financial instrument in the digital economy.

This integration with Binance Wallet builds on previous developments within Binance’s ecosystem, including decentralized exchanges and lending platforms. The goal is to make XAUm a benchmark for modern gold investments, providing an efficient and trusted solution that redefines asset efficiency and financial equality.

Binance Wallet enhances this vision by offering a secure and intuitive entry point to Web3. Users can manage digital assets, perform cross-chain token swaps, and earn yields effortlessly. With a simple setup process via the Binance app, the wallet eliminates the need for seed phrases or private keys, furthermore, it utilizes Multi-Party Computation (MPC) technology to enhance secure transactions.

Through this integration, individuals worldwide are able to buy, own, and trade gold conveniently with a mobile device. By leveraging Web3 technology and the multi-chain ecosystem, Matrixdock and Binance Wallet set a new standard for modern gold investments, driving financial equality and innovation.

About Matrixdock

Founded in February 2023 by Matrixport, Matrixdock is Asia’s RWA leader that modernizes financial instruments through advanced tokenization technology. As the first in Asia to introduce a tokenized short-term treasury bill product, STBT, earned the Ecosystem Excellence TADS Award in 2023 for Trading & Liquidity Solutions. In 2024, it launched a one-of-a-kind Tokenized Gold token, XAUm, modernizing traditional gold investment into a dynamic, multifunctional digital asset.

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View original content:https://www.prnewswire.co.uk/news-releases/matrixdock-integrates-xaum-gold-token-with-binance-wallet-to-advance-financial-equality-302340189.html

Fintech PR

FXGiants Launches Partner Programs to Boost Forex Trading Success

Published

4 hours ago

December 30, 2024

CISION (PR Newswire)

HAMILTON, Bermuda, Dec. 30, 2024 /PRNewswire/ — FXGiants, a prominent brokerage firm, has opened a new chapter for individuals eyeing opportunities in forex trading. The company has launched new, easy-to-join partnership programs, offering valuable earning opportunities to market participants. Combining effortless integration with substantial revenue potential, these initiatives will arm partners with everything they need to explore today’s forex landscape.

Christopher Oates, a spokesperson for FXGiants elaborated on this development: “Our partner programs are designed to fuel growth for partners by removing unnecessary hurdles. From smooth onboarding to competitive rewards and strong support systems, we aim to provide everything needed for success. Our mission is to help individuals and companies scale their operations, boost their earnings, and tap into new opportunities with confidence.”

Programs Designed for Unique Ambitions

Recognizing that goals differ from partner to partner, FXGiants has shaped three dedicated programs built for varied ambitions. Firstly, the Introducing Brokers (IBs) plan allows users to bring new clients to FXGiants and, in turn, earn competitive commissions. Adding excitement, the IB Monthly Reward Plan offers cash incentives of up to $1,000, determined by client trading activity and volumes.

Secondly, the Affiliate Program is a haven for marketing-focused individuals as it offers forex trading tracking tools and an extensive suite of professional promotional content. Affiliates can easily evaluate their campaigns’ performance and receive earnings based on qualified referrals. Lastly, the White Label Solution is suitable for businesses seeking a fully branded, standalone trading experience. FXGiants delivers a customizable platform that allows businesses to retain control over client offerings.

“At FXGiants, our objective remains straightforward – to give our partners unparalleled possibilities in the forex trading market,” Oates added. “Joining our programs is quick and easy. Interested parties can register on our website or reach out via email to get started. We are committed to building a path for long-term success, one step at a time.”

About FXGiants

FXGiants is an FCA/BMA-regulated broker that gives access to over 300 trading instruments to its clients. Features such as tight spreads, VPS hosting, and Live and ECN/STP accounts, underline its commitment to traders’ convenience and security. With the reliable MT4 platform and PMAM software, FXGiants also ensures swift executions and an intuitive trading environment for beginners and seasoned traders alike. Moreover, around-the-clock, multilingual assistance adds yet another layer of dependability, fostering a confident and efficient forex trading experience.

All trading involves risk. It is possible to lose all of your capital. This offer is made by Notesco Int Limited, registered in Anguilla. FXGiants is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.

https://www.fxgiants.com/

View original content:https://www.prnewswire.co.uk/news-releases/fxgiants-launches-partner-programs-to-boost-forex-trading-success-302338959.html

Fintech PR

Bybit and SOLV Protocol Team Up for Explosive bbSOL Maxi Rewards

Published

4 hours ago

December 30, 2024

CISION (PR Newswire)

bybit-and-solv-protocol-team-up-for-explosive-bbsol-maxi-rewards

DUBAI, UAE, Dec. 30, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange, today announced a thrilling new campaign in collaboration with SOLV Protocol: the bbSOL Maxi Rewards. This exciting event offers users the chance to win a share of 1,300,000 SOLV tokens via airdrop by staking their SOL.

From December 30, 2024, at 10:00 AM UTC to January 20, 2025, at 10:00 AM UTC, users who stake at least 0.5 SOL to obtain bbSOL through their Bybit Web3 Seed Phrase Wallet on the Bybit Web3 Earn platform are eligible to participate in the campaign and win exciting SOLV rewards.

“We’re thrilled to partner with SOLV Protocol for this exciting campaign,” said Emily Bao, Head of Web3 and Spot at Bybit. “The bbSOL Maxi Rewards presents a fantastic opportunity for users to maximize their SOL holdings and earn substantial rewards. We encourage everyone to participate and experience the power of Bybit Web3.”

How to Participate:

Visit the Airdrop Arcade: Head over to the dedicated “bbSOL X SOLV Campaign Page” (Airdrop Arcade).
Connect Your Wallet: Connect your Bybit Web3 Seed Phrase Wallet and complete the required tasks.
Stake Your SOL: Stake a minimum of 0.5 SOL to obtain bbSOL through Bybit Web3 Earn. The more you stake, the higher your potential rewards in the Ultimate Rewards Pool.

The top 100 stakers with the highest SOL stakes will receive their SOLV rewards directly to their Bybit Web3 Seed Phrase Wallet’s ETH address within three weeks of the event’s conclusion.

To participate, users must deposit SOL and obtain bbSOL on the Bybit Web3 Earn platform using their Bybit Web3 Seed Phrase Wallet. Only new SOL deposits made during the event period are eligible for rewards.

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit Web3, please visit Bybit Web3.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: [email protected]

For updates, please follow: Bybit’s Communities and Social Media